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Surya Industrial Corporation to hold AGM

Surya Industrial Corporation to hold AGM

Sep 14,2016

Surya Industrial Corporation announced that the Annual General Meeting (AGM) of the company will be held on 30 September 2016.

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Kirloskar Ferrous Industries standalone net profit rises 9.59% in the March 2017 quarter
Apr 28,2017

Net profit of Kirloskar Ferrous Industries rose 9.59% to Rs 13.26 crore in the quarter ended March 2017 as against Rs 12.10 crore during the previous quarter ended March 2016. Sales rose 30.04% to Rs 318.21 crore in the quarter ended March 2017 as against Rs 244.71 crore during the previous quarter ended March 2016.

For the full year,net profit rose 56.89% to Rs 90.57 crore in the year ended March 2017 as against Rs 57.73 crore during the previous year ended March 2016. Sales rose 1.91% to Rs 1127.10 crore in the year ended March 2017 as against Rs 1105.93 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales318.21244.71 30 1127.101105.93 2 OPM %7.4314.52 -15.5713.64 - PBDT22.7831.31 -27 167.33129.59 29 PBT12.3419.93 -38 121.4685.22 43 NP13.2612.10 10 90.5757.73 57

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UPL reports standalone net loss of Rs 74.50 crore in the March 2017 quarter
Apr 28,2017

Net loss of UPL reported to Rs 74.50 crore in the quarter ended March 2017 as against net profit of Rs 145.63 crore during the previous quarter ended March 2016. Sales rose 13.70% to Rs 1638.34 crore in the quarter ended March 2017 as against Rs 1440.91 crore during the previous quarter ended March 2016.

For the full year,net profit declined 36.50% to Rs 244.60 crore in the year ended March 2017 as against Rs 385.17 crore during the previous year ended March 2016. Sales rose 16.02% to Rs 6938.72 crore in the year ended March 2017 as against Rs 5980.78 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales1638.341440.91 14 6938.725980.78 16 OPM %10.0216.44 -13.5814.02 - PBDT111.42337.85 -67 1118.761127.89 -1 PBT-56.85165.32 PL 463.24508.44 -9 NP-74.50145.63 PL 244.60385.17 -36

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Coromandel International consolidated net profit rises 56.14% in the March 2017 quarter
Apr 28,2017

Net profit of Coromandel International rose 56.14% to Rs 144.27 crore in the quarter ended March 2017 as against Rs 92.40 crore during the previous quarter ended March 2016. Sales declined 25.08% to Rs 2247.45 crore in the quarter ended March 2017 as against Rs 2999.91 crore during the previous quarter ended March 2016.

For the full year,net profit rose 33.44% to Rs 476.96 crore in the year ended March 2017 as against Rs 357.44 crore during the previous year ended March 2016. Sales declined 12.63% to Rs 9976.64 crore in the year ended March 2017 as against Rs 11419.05 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales2247.452999.91 -25 9976.6411419.05 -13 OPM %12.106.65 -9.846.70 - PBDT237.51154.50 54 813.01610.18 33 PBT212.14127.14 67 712.30504.06 41 NP144.2792.40 56 476.96357.44 33

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CEAT consolidated net profit declines 32.51% in the March 2017 quarter
Apr 28,2017

Net profit of CEAT declined 32.51% to Rs 66.33 crore in the quarter ended March 2017 as against Rs 98.28 crore during the previous quarter ended March 2016. Sales rose 5.21% to Rs 1457.83 crore in the quarter ended March 2017 as against Rs 1385.62 crore during the previous quarter ended March 2016.

For the full year,net profit declined 17.46% to Rs 361.15 crore in the year ended March 2017 as against Rs 437.54 crore during the previous year ended March 2016. Sales rose 5.05% to Rs 5722.34 crore in the year ended March 2017 as against Rs 5447.18 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales1457.831385.62 5 5722.345447.18 5 OPM %9.0913.47 -11.4814.19 - PBDT114.88166.91 -31 593.69706.00 -16 PBT68.86131.90 -48 450.61598.28 -25 NP66.3398.28 -33 361.15437.54 -17

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IDFC consolidated net profit rises 3.33% in the March 2017 quarter
Apr 28,2017

Net profit of IDFC rose 3.33% to Rs 134.80 crore in the quarter ended March 2017 as against Rs 130.45 crore during the previous quarter ended March 2016. Sales rose 23.54% to Rs 2576.90 crore in the quarter ended March 2017 as against Rs 2085.83 crore during the previous quarter ended March 2016.

For the full year,net profit reported to Rs 699.08 crore in the year ended March 2017 as against net loss of Rs 934.80 crore during the previous year ended March 2016. Sales rose 16.95% to Rs 10458.18 crore in the year ended March 2017 as against Rs 8942.28 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales2576.902085.83 24 10458.188942.28 17 OPM %83.2683.11 -82.0583.30 - PBDT378.04344.82 10 1940.081741.78 11 PBT337.19315.24 7 1791.461679.40 7 NP134.80130.45 3 699.08-934.80 LP

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UPL consolidated net profit rises 302.57% in the March 2017 quarter
Apr 28,2017

Net profit of UPL rose 302.57% to Rs 741.01 crore in the quarter ended March 2017 as against Rs 184.07 crore during the previous quarter ended March 2016. Sales rose 20.45% to Rs 5341.36 crore in the quarter ended March 2017 as against Rs 4434.35 crore during the previous quarter ended March 2016.

For the full year,net profit rose 83.80% to Rs 1727.29 crore in the year ended March 2017 as against Rs 939.76 crore during the previous year ended March 2016. Sales rose 16.11% to Rs 16311.75 crore in the year ended March 2017 as against Rs 14048.24 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales5341.364434.35 20 16311.7514048.24 16 OPM %19.4215.15 -18.3017.05 - PBDT970.90586.05 66 2693.722006.69 34 PBT784.29387.23 103 2022.161331.06 52 NP741.01184.07 303 1727.29939.76 84

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Supreme Industries consolidated net profit rises 29.03% in the March 2017 quarter
Apr 28,2017

Net profit of Supreme Industries rose 29.03% to Rs 148.16 crore in the quarter ended March 2017 as against Rs 114.83 crore during the previous quarter ended March 2016. Sales rose 6.86% to Rs 1282.63 crore in the quarter ended March 2017 as against Rs 1200.31 crore during the previous quarter ended March 2016.

For the full year,net profit rose 94.42% to Rs 430.40 crore in the year ended March 2017 as against Rs 221.38 crore during the previous year ended March 2016. Sales rose 50.75% to Rs 4462.26 crore in the year ended March 2017 as against Rs 2960.06 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales1282.631200.31 7 4462.262960.06 51 OPM %18.9217.93 -17.0715.57 - PBDT241.77206.34 17 736.74434.24 70 PBT200.59168.83 19 582.45329.67 77 NP148.16114.83 29 430.40221.38 94

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Ujjivan Financial Services standalone net profit declines 62.83% in the March 2017 quarter
Apr 28,2017

Net profit of Ujjivan Financial Services declined 62.83% to Rs 20.41 crore in the quarter ended March 2017 as against Rs 54.91 crore during the previous quarter ended March 2016. There were no Sales reported in the quarter ended March 2017 and during the previous quarter ended March 2016.

For the full year,net profit rose 17.17% to Rs 207.64 crore in the year ended March 2017 as against Rs 177.22 crore during the previous year ended March 2016. There were no Sales reported in the year ended March 2017 and during the previous year ended March 2016.

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Prima Industries reports standalone net profit of Rs 0.06 crore in the March 2017 quarter
Apr 28,2017

Net profit of Prima Industries reported to Rs 0.06 crore in the quarter ended March 2017 as against net loss of Rs 0.45 crore during the previous quarter ended March 2016. There were no Sales reported in the quarter ended March 2017 as against Rs 1.29 crore during the previous quarter ended March 2016.

For the full year,net profit reported to Rs 0.95 crore in the year ended March 2017 as against net loss of Rs 0.25 crore during the previous year ended March 2016. Sales declined 85.22% to Rs 1.42 crore in the year ended March 2017 as against Rs 9.61 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales01.29 -100 1.429.61 -85 OPM %0-31.01 -122.544.89 - PBDT0.26-0.38 LP 1.750.49 257 PBT0.06-0.45 LP 0.95-0.25 LP NP0.06-0.45 LP 0.95-0.25 LP

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Supreme Industries standalone net profit rises 23.65% in the March 2017 quarter
Apr 28,2017

Net profit of Supreme Industries rose 23.65% to Rs 127.19 crore in the quarter ended March 2017 as against Rs 102.86 crore during the previous quarter ended March 2016. Sales rose 6.85% to Rs 1282.72 crore in the quarter ended March 2017 as against Rs 1200.48 crore during the previous quarter ended March 2016.

For the full year,net profit rose 78.13% to Rs 379.30 crore in the year ended March 2017 as against Rs 212.93 crore during the previous year ended March 2016. Sales rose 50.73% to Rs 4461.77 crore in the year ended March 2017 as against Rs 2960.06 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales1282.721200.48 7 4461.772960.06 51 OPM %18.9017.92 -17.0715.57 - PBDT241.65210.66 15 739.37442.83 67 PBT200.47173.15 16 585.08338.26 73 NP127.19102.86 24 379.30212.93 78

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FPIs turn buyers
Apr 28,2017

Foreign portfolio investors (FPIs) bought stocks worth a net Rs 28.06 crore from the secondary equity markets on 27 April 2017, compared with net outflow of Rs 40.68 crore on 26 April 2017. On that day, the Sensex fell 103.61 points or 0.34% to settle at 30,029.74, its lowest closing level since 25 April 2017.

The net inflow of Rs 28.06 crore on 27 April 2017 was a result of gross purchases of Rs 6397.38 crore and gross sales of Rs 6369.32 crore.

There was a net outflow of Rs 50.86 crore from the category primary market & others on 27 April 2017, which was a result of gross purchases of Rs 0.74 crore and gross sales of Rs 51.60 crore.

FPIs have sold stocks worth a net Rs 1645.32 crore in April 2017 so far (till 27 April 2017). They had bought stocks worth a net Rs 29480.37 crore in March 2017.

FPIs have purchased shares worth a net Rs 34842.15 crore from the secondary equity markets in calendar year 2017 so far (till 27 April 2017). They had purchased shares worth a net Rs 12094.42 crore from the secondary equity markets in calendar year 2016.

There was a net inflow of Rs 4039.81 crore from FPIs into the category primary market & others in April 2017 so far (till 27 April 2017). They had bought stocks worth a net Rs 1425.63 crore from the category primary market & others in March 2017.

FPIs have purchased shares worth a net Rs 7183.92 crore from the category primary markets & others in calendar year 2017 so far (till 27 April 2017). The net inflow from FPIs in the category primary markets & others had totaled Rs 8471.76 crore in calendar year 2016.

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Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver
Apr 28,2017

In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs, being satisfied that it is necessary and expedient so to do, hereby makes the following amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 36/2001-Customs (N.T.), dated the 3rd August, 2001, published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii), vide number S. O. 748 (E), dated the 3rd August, 2001, namely:-

In the said notification, for TABLE-1, TABLE-2, and TABLE-3 the following Tables shall be substituted namely:-

TABLE-1

Sl. No.

Chapter/ heading/ sub-heading/tariff item

Description of goods

Tariff value
(US $Per Metric Tonne)

(1)

(2)

(3)

(4)

1

1511 10 00

Crude Palm Oil

702

2

1511 90 10

RBD Palm Oil

722

3

1511 90 90

Others- Palm Oil

712

4

1511 10 00

Crude Palmolein

738

5

1511 90 20

RBD Palmolein

741

6

1511 90 90

Others Gô Palmolein

740

7

1507 10 00

Crude Soya bean Oil

780

8

7404 00 22

Brass Scrap (all grades)

3199

9

1207 91 00

Poppy seeds

2510

TABLE-2

Sl. No.

Chapter/ heading/ sub-heading/tariff item

 

Description of goods

Tariff value
(US $)

(1)

(2)

(3)

(4)

 

 

1

71 or 98

Gold, in any form, in respect of which the benefit of entries at serial number 321 and 323 of the Notification No. 12/2012-Customs dated 17.03.2012 is availed

410 per 10 grams

 

 

2

71 or 98

Silver, in any form, in respect of which the benefit of entries at serial number 322 and 324 of the Notification No. 12/2012-Customs dated 17.03.2012 is availed

568 per kilogram

TABLE-3

Sl. No.

Chapter/ heading/ sub-heading/tariff item

Description of goods

Tariff value
(US $ Per Metric Tonne )

(1)

(2)

(3)

(4)

1

080280

Areca nuts

2682

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Ind-Ra: Rupee Appreciation Credit Neutral for Borrowing Exporters
Apr 28,2017

Despite the Indian rupee appreciating over 5% this year against the dollar the credit profile of net borrowing exporters remains stable, says India Ratings and Research (Ind-Ra). This is because nearly 85% have a low to moderate sensitivity or benefit positively from such appreciation. Further, most of the exporters have low leverage levels and are thus able to mitigate any negative impact on their credit profiles.

Exporters also benefit from their low exposure to FX debt of INR2.8 trillion (total FX debt of 100 corporates INR8.1 trillion) and low FX trade exposure (imports plus exports) of INR2.6 trillion (total FX trade of 100 corporates INR11.4 trillion) as of FYE16. However, it is possible given the depreciating bias which was prevalent in December 2016, the hedging practices may have titled towards unhedged exposures and the recent appreciation could provide negative surprises, more than anticipated. Exporters had around 50% of their debt hedged and less than 20% of FX trade exposure hedged in FY16, this trend is estimated to remain unchanged even in FY17.

While operating profits of exporters are likely to be marginally (2% fall from a 5% rupee appreciation) impacted, Ind-Ra expects a pick-up in merchandise exports driven by the recovery in global commodity prices, better demand conditions in the United States and the EU reflected in the improving consumption will aid to overall export growth.

Ind-Ra believes exporting sectors namely, pharma, IT, textile, auto and gems and jewellery are unlikely to have a significant impact on the credit profiles from the rupee appreciation given the low FX exposure of INR2.2 trillion (11% of total INR19.5 trillion). However, these sectors have hedged FX debt of up to 25% (except auto which has 82% hedged FX debt) and hedged trade of up to 56%. Ind-Ra believes a sustained currency appreciation can negatively impact the operating profitability for these sectors due to the unhedged trade exposure of up to 44% . Amongst the importing sectors, oil and gas benefits from a natural hedge and holds maximum FX exposure (INR9.3 trillion), followed by metal and mining (FX exposure of INR2.6 trillion). For oil and gas and metals and mining sectors the debt hedged is 13% and 62%, while trade hedged is 43% and 26%, respectively.

The assumption takes into account the impact on corporates balance sheets due to rupee appreciation from INR66.3/USD as of March 2016. The agency notes that of the 100 FX corporate borrowers analysed, 61 provided disaggregated information regarding year-end (FY16) FX debt, receivables and payables. However, for the remaining 39 entities, the agency has made suitable assumptions on account of lack of availability of information. Lack of complete and reasonable information dissemination emerged as the major challenge of the study, reinforcing the need for superior reporting standards.

While the rupee has shown appreciation some correction from here on cannot be ruled out and thus Ind-Ra in its report Corporates Unprepared for Managing Foreign Exchange (FX) Risk; 64% of Exposure Unhedged analysed the impact on the credit profile of the top 100 listed and unlisted external commercial borrowers (ECB) on account of FX risk in the event of 10% rupee depreciation. Of these 100 FX borrowers, 69 are net importers while 31 are net exporters.

The credit profile of 60 of the 69 net importers could be negatively impacted, of which 36 have a high negative sensitivity to rupee depreciation. Most importers have high leverage levels and are likely to be negatively impacted due to their high FX debt of INR5.3 trillion and FX trade of INR8.8 trillion. The agency believes prohibitively expensive cost of hedging dollar liabilities compared to thin EBITDA margins could weaken the credit profiles of importers in a depreciating rupee environment. On an aggregate basis, importers have 30% of their debt hedged and 42% of trade hedged.

Ind-Ra believes that while the impact of a depreciating currency is likely to be much more negative than that of an appreciating currency, volatility of the currency could provide greater surprises on both sides. Given the macro fundamentals and the capital flows, Ind-Ra does not expect the volatility to be the order of the day.

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Board of Federal Bank approval raising of capital up to Rs 2500 crore
Apr 28,2017

Federal Bank announced that the Board of Directors of the Company at its meeting held on 28 April 2017 has accorded its approval for raising of equity capital by the Bank up to an aggregate amount of Rs 2500 crore including premium if any, through QIP, rights issue, private placement, preferential issue, public issue, follow in public issue, GDR, ADR or any other combination thereof subject to approval of shareholders and statutory approvals.

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Lupin receives final approval for Olmesartan Medoxomil tablets
Apr 28,2017

Lupin announced that it has received final approval for its Olmesartan Medoxomil tablets, 5 mg, 20 mg and 40 mg from the United States Food and Drug Administration to market generic version of Benicar tablets, 5mg, 20 mg and 40 mg. It is indicated for the treatment of hypertension to lower blood pressure.

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